What's impeding our market?

Georgetown hasn't escaped the slow-down in real estate sales which is in evidence across the U.S.  But as we begin the recovery, each locality will have a different pace of recovery.  And every locality has its own challenges.  In Georgetown we have been fortunate with the job market and fewer foreclosure issues.  Our biggest impediment is extremely tight credit, and very strict lending guidelines.  In the Atlanta area, the big drag is distressed sales. Paul Brower, ABR, GRI, of Harry Norman, REALTORS®, in Marrietta, says the market is improved over last year and is expected to improve even more in 2011, but the metro area is trying to absorb the addition of 1,500 foreclosed properties each month. Until that overhang starts to ease, he says, the market can’t decisively turn around.

Read more...Different Locations, Different Recoveries

By Robert Freedman, Senior Editor, REALTOR® Magazine


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